BusinessHABIncreasing restaurant revenue: Creating a profitable business is not easy. In fact, it takes time and a lot of hard work.
As a restaurant owner, you need to think creatively when it comes to increasing profits and reducing expenses.
There are many things you can do to increase your restaurant’s revenue, including raising prices on specific menu items, implementing reservations or even charging for ketchup packets.
But whether you choose one of these strategies or another method entirely, the key is to find ways to make more money than you spend.
This blog post covers 50 ideas for growing your restaurant’s revenue that will keep customers coming back for more and help your business grow its bottom line as well as its top line.
The 50 Best Ways to Increase Restaurant Revenue
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Restaurant revenue is a crucial metric for any eatery, but it can be especially challenging for those in the hospitality industry. While some businesses thrive on being unique and providing a memorable experience, restaurants need to first and foremost be profitable. In order to keep your restaurant from falling into the red, you need to find ways to increase revenue. Fortunately, there are many ways to do this with little upfront investment from your business. These tips will help you increase your restaurant’s revenue and stay profitable at the same time.
Change Your Menu
If you’ve been serving the same menu for years, customers may be getting bored with it. Instead of keeping a menu that’s no longer interesting to your customers, you could consider changing your menu. Don’t do this without checking in with your guests first, though. Rather than just changing the menu completely, consider making small-scale changes, like adding a guest chef’s special or changing up the dessert menu. You could also shift your focus toward a specific type of cuisine. If you’re in a tourist town, you might want to go with a menu that caters toward that crowd. If you’re in a college town, you might want to consider a menu more suited for students. You can even change your menu seasonally to give guests something new and get them excited about coming back.
More Marketing, More Advertising
First and foremost, you’re going to want to adjust your marketing strategy to focus more on increasing restaurant revenue. While some restaurants have great foot traffic, many others struggle to get new customers. You’re going to want to up your marketing game in order to bring in new customers who may not have heard about your restaurant before. One of the best ways to do this is to invest in advertising. You can try advertising on social media channels, where you can target specific audiences. You can also try running ads on search engines, like Google, or take out print advertisements.
Add a Small Plate or Appetizer Option
Adding a small plate or appetizer option to the menu can be a great way to increase restaurant revenue. While some restaurants do this naturally by serving an amuse-bouche or complimentary appetizer, many don’t. If you aren’t currently serving an appetizer, you could consider small plates, like crudos or a cheese and charcuterie bar, or even dessert. You can even try offering a small side dish for a nominal price, like a cup of soup or a side salad. Offering a small plate or appetizer option can help your restaurant make more money because people are more likely to order an additional item than they are to order an entire meal.
Advertise Happy Hour Specials
If you have a bar or restaurant with a liquor license, you could consider offering a happy hour special. Depending on your state, you might also be able to advertise happy hour specials on social media. Happy hours are a great way to bring in new customers, especially if you are located in a less-than-desirable area. Happy hours are also a great way to get people in the door who just want to come in for a quick drink and a bite. During happy hour, you can also encourage people to order appetizers or desserts and provide them with additional value. This is a great way to get more customers in your restaurant and increase restaurant revenue without having to invest additional money.
Dine-and-Door Strategies
Many restaurants offer discounts during off-peak hours, such as during the early morning or late night, or on certain days of the week. However, you can take this a step further by practicing what’s known as “dine-and-door” strategies. This can help your restaurant increase revenue by encouraging people to spend more money at your establishment. You can try offering a free dessert or drink after a certain amount is spent, or you could encourage guests to order an appetizer or dessert with their meal. You can also offer free dessert for celebrating birthdays or anniversaries, or try offering special themed menus for holidays or special events.
Run a Promotion for Lunch or Dinner
You can also increase restaurant revenue by running a promotion for lunch or dinner. If you have a special menu item or drink during these times, you can encourage people to visit during these times. If you’re a breakfast or brunch restaurant, you could run a lunchtime promotion to try to bring people in earlier in the day. You can also do this the other way around and run a promotion during the dinner hours to encourage people to stay out later. You could offer a two-for-one special, or try offering a special dessert or drink, like a special cocktail or mocktail.
Try Live-Streaming Events
If you’re in the restaurant business, you may want to try to make connections with your local community. One way to do this is to broadcast events in your restaurant, like live music concerts or poetry readings, and allow the public to stream them online. You can broadcast these events on your website or on streaming platforms like Facebook Live or YouTube Live. This can help you make connections with your local community, and it can also help you increase restaurant revenue. You’d be able to charge guests to attend these events, and it could also draw in guests who can’t make it to your restaurant.
Add New Menu Items
If you’ve been in business for a while, you may want to consider adding new menu items. This can help you stay fresh and relevant in the eyes of your guests, and it can also help you increase restaurant revenue. It can be challenging to determine which menu items you should add, but here are a few factors to consider: Will this item draw in new guests? Is it in line with your current menu? Is it easily accessible for your staff members to prepare? What are your competitors doing? These are just a few ways to determine which menu items you should add to your restaurant’s menu.
Try a Different Marketing Strategy
Finally, you can increase restaurant revenue by trying a different marketing strategy. For example, you could try partnering with another local business to bring attention to both your restaurants. You could also try hosting more community events, like charity dinners or food festivals. You could even try hosting a loyalty program or offering a subscription service to provide additional value to your guests. No matter what method you choose, you can try a different marketing strategy to help increase restaurant revenue.
Bottom line
Restaurant revenue is crucial for any restaurant, but it can be especially challenging for those in the hospitality industry. These 50 ways will help you increase your restaurant’s revenue and stay profitable at the same time. First and foremost, you’re going to want to adjust your marketing strategy to focus more on increasing restaurant revenue.
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